How to Transfer the Car Ownership in Singapore?

If you’re considering transferring your car ownership in Singapore, because you’re getting an electric car or selling your car now, the process of assigning your vehicle to a new owner requires steps that have to be taken with the Land Transport Authority (LTA).

Follow these simple steps below and you’ll be able to successfully transfer car ownership without any hassles.

Before transfering your car ownership

Transferring car ownership in Singapore is a straightforward procedure, with a few necessary criterias.

• The car must not be currently under financing, and have all outstanding fees and taxes paid off.
• Depending on the category of COE (up to 1600cc & 97kW or anything over), the vehicle should also have reached at least 3 months of age before ownership can be transferred.
• There may also be an additional levy imposed if the car is between 4 and 6 months old, with the new owner being liable to pay it.
• The ownership transfer has to be completed within 7 days when initiated, with both parties needing access to either SingPass or CorpPass (for online transfers).
• The vehicle must have valid motor insurance under the buyer or next owner name, covering the full period of the vehicle’s valid road tax.
• The vehicle must pass vehicle inspection by any LTA-Authorised Inspection Centre, if vehicle inspection is required before road tax can be renewed.

When to transfer your car ownership

You can transfer the car ownership in Singapore after selling or gifting away a vehicle, as well as when the current car owner has passed away. This process ensures that all applicable rules and regulations are followed, and that the new owner is properly registered.

Take a look at the steps to transfer the car ownership below:

Step 1: Finding a suitable buyer (if you are selling your car)

When transferring ownership of a vehicle in Singapore, the process starts with finding a suitable buyer. You can either contact a car dealer directly to assist you in the sale, or you can make use of Carsnap platform to help sell your car for the best price.

If you opt for selling your car via Carsnap, the car dealer buying your car can pay off any outstanding loan associated with your car, and then deduct this from the final selling price.

Carsnap are known to have an extensive pool of trusted car dealers looking to purchase many different car models, thus making the whole process faster.

Step 2: Ensure any outstanding loans or fees on the vehicle are cleared

According to the Land Transport Authority regulations, a car must be free of any financial issues before its ownership can switch hands. This means paying off the rest of your auto loan (or having the dealer do it for you), and settling any fines, taxes, arrears or fees.

Step 3: Perform the transfer online

Before transfering the ownership of your car, decide if you’ll be retaining the existing car license plate number. If yes, you need to apply before proceeding with the transfer.

Once you and the buyer are ready to make the transfer, it can be done via:

1. Online through SingPass or CorpPass.
2. At the Land Transport Authority (LTA) Customer Service Centre. (Only for diplomatic vehicle, when you are buying a Light Goods Vehicle (LGV) as a hawker or farmer or you are foreigner not eligible for Singpass).

For online car ownership transfer, follow these steps:

1. Log in to LTA OneMotoring’s website, and enter the registration number, next owner’s NRIC, FIN/company registration number, and mobile number.
2. The new owner will receive an SMS notification of the transfer, with 5 days to confirm the transfer of ownership.
3. The new owner will have to log in to LTA OneMotoring’s website and pay a $25 fee to complete the transfer process.
4. Both parties will receive an SMS notifying them that the ownership has been transferred successfully.
5. The new owner should collect the car keys from you after everything is completed.

What to look out for before taking over the car?

When taking over a pre-owned car, there are some important considerations one should take note of. It is crucial to ensure a smooth transfer by paying attention to key factors such as ownership documents, existing loan and insurance obligations, taxes, registration and inspection fees.

Understanding and doing your due diligence in these areas can help make the process of taking over a pre-owned car stress-free!

• Engine and chassis: It is essential to first check that the engine and chassis numbers match with Land Transport Authority (LTA) records. Otherwise, when the vehicle is deregistered, it will not be eligible for any PARF or COE rebates. To see if the numbers on the vehicle match those in LTA’s records, one can visit an LTA-Authorised Inspection Centre (AIC) or use LTA’s Enquire Transfer Fees digital service.
• Taxes and rebates: Be aware of the taxes and rebates associated with the car. This will be transferred from the seller to the new owner, including remaining road tax, COE rebates and PARF rebates.
• Motor insurance: When you become the owner of the car, it is necessary to secure valid motor insurance with your name listed on it for the entire period of the road tax of your vehicle.
• Additional levy: When taking possession of a car with either a Category A or B Certificate of Entitlement (COE), you may need to pay an additional levy if the car is four to six months past its registration date. This payment will be the difference between the Quota Premium (QP) that was paid for that vehicle’s COE and the current QP in the corresponding COE category.

After completion of the online transfer, it is important to make sure that the transfer process has been completed properly.

Check that the vehicle is registered under your name, and look out for a letter or SMS confirmation from the Land Transport Authority (LTA) confirming the transfer.

Buying your first car? Getting a second-hand car is a great way to save money. Before you make your purchase, follow some expert car buying tips and advice to get the most out of your hard-earned money. After that, go through the steps outlined in this article to guarantee a smooth ownership transaction for your exciting new ride.